Asian markets shocked by Donald Trump victory
All markets have slumped, with Mumbai loosing up to 6%. Gold bonds jump as a safe haven. The futures for the Dow Jones lose 4%. Surprises in Shenzhen. Trump is the 45th US president.
Hong Kong (AsiaNews) - Asian stocks are loosing up to 6% the possibility emerges that the Republican candidate Donald Trump will become the new president of the United States.
All major markets in the region were down, with a clear move in capital towards safe haven assets such as gold or the yen. The value of gold rose to $ 1,337.38 an ounce against 1268.30 in early morning.
Japan's Nikkei fell 5.2%; the Hang Seng in Hong Kong 3.8; the Shanghai stock market 1.6. In Australia the market has lost 2.1 and Seoul fell by 3.1. India and Mumbai have lost 6%, also on the bac of Prime Minister Modi’s campaign against corruption.
Donald Trump during the election campaign emphasized that he would protect the US economy and this is seen as negative by the Asian economies that rely on exports to the US. Clinton was instead seen as "the devil you know."
There has also been a drop in oil prices. The West Texas Intermediate (WTI) lost $ 1.56 to $ 43.42. Brent lost $ 1.41, to $ 44.63.
The Dow Jones futures are projected to lose 4% at the opening of the New York market.
A curiosity: the shares in a company in Shenzhen (China) gained 5% this morning. Its name in Chinese, Chuan Da Zhi Sheng, means something like "Trump might win."
Before the end of the count, but already with almost all of the numbers in, Trump became the 45th president of the United States. Trump, without any preparation in politics, ran a campaign full of nationalist slogans, with heavy blows against immigration and international market rules.
Hillary Clinton focused on being a possible first female US president, exhibiting her demonstrated skills as secretary of state in the first term of Barack Obama. But perhaps it was precisely this "experience" that gave the electorate the impression of her being part of a "political system" removed from the concerns of everyday people.